HDFC Bank collects highest penalty for this balance
Synopsis HDFC Bank, Axis Bank, and Bank of Baroda collected the most penalties for low balances. Public sector banks collected these charges from FY 2021-22
Synopsis HDFC Bank, Axis Bank, and Bank of Baroda collected the most penalties for low balances. Public sector banks collected these charges from FY 2021-22 to FY 2025-26.
Private sector banks collected penalties from FY 2022-23 to FY 2025-26. Most public sector banks have now withdrawn these charges for savings accounts. Zero-balance accounts
like Jan Dhan Yojana accounts are exempt from such penalties.
The BriefWire